Infibeam gets Sebi nod to raise Rs 450 cr via IPO: Report

06 Oct 2015

E-commerce firm Infibeam has got approval from capital market regulator Sebi to raise up to Rs 450 crore through initial public offering of its equity shares, news agency Economic Times reported.

As per ET reports, following the Sebi approval, Infibeam, engaged in online retailing, e-commerce software and internet services, will be the first pure-play e-commerce firm in the country to float an IPO in India

Ahmedabad-based company intends to use the fund proceed to set up a cloud data and logistics centres and buying software.

The company has hired SBI Capital Markets, ICICI Securities, Kotak Mahindra Capital and Elara Capital as merchant bankers for the proposed IPO.

Infibeam had filed the filed the draft red herring prospectus (DRHP) with SEBI for a public issue of its equity shares on June 30 this year.

Source: Dion Global Type: IPO Related

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